Reinsurance Accountant

AmTrust North America
Jersey City


The Senior Reinsurance Accountant is a motivated, experienced and independent thinker who plays a critical role in supporting the reinsurance accounting and operations function across AmTrust Financial Services. The role interacts with our finance leadership team, Underwriting, Claims and Actuarial departments to ensure the proper interpretation and recognition of complex reinsurance agreements. This is a great opportunity to be part of an exciting fortune 500 organization that is growing and at the same time transforming its accounting and reinsurance platforms to meet the needs of a global organization.


  • Review and/or prepare assumed and ceded day to day reinsurance general ledger transactions, including preparation of supporting schedules and reinsurance cession statements; and, track the results against close calendar for both domestic reinsurance portfolios.
  • Participate in the review and implementation of non–routine transactions that includes accounting for Adverse Development Cover reinsurance on a retroactive accounting basis, managing the intercompany pooling process, including coordinating/implementing updates to the pooling agreement and other adhoc reinsurance agreements, as assigned by senior management.
  • Manage the verification process over ceded facultative certificate and contracts (Quota Share, XOL, etc.), including the process over maintaining payables and recoverables, ensuring the timely and accurate booking, control and collection of the balances.
  • Prepare and/or review analytics to support variance explanations for reinsurance balances or for selected items to present to senior management, the company Board and regulators on a GAAP & Statutory basis.
  • Diligently support adherence to the company's framework of internal controls by ensuring manual and/or automated procedures adhere to the company?s internal control policies, including driving the design and operating effectiveness of reinsurance related controls.
  • Participate in the calculation and/or review for the quarterly and annual US Statutory and US GAAP financial reporting for reinsurance balances and disclosures.
  • Prepare and/or review account reconciliations of reinsurance balances to supporting sub–ledgers and ensure proper documentation; which includes identifying timing differences and non–timing differences, for which a remediation plan can be executed properly.
  • Participate with maintaining an inventory of intercompany reinsurance agreements and ensure proper accounting, including elimination for US GAAP reporting.
  • Develop a complete understanding of the company?s Reinsurance data flows, system landscapes and system interactions affecting reporting under relevant valuations and provide insight that helps to ensure an accurate and timely reporting life cycle, this includes proven ability to challenge the status quo and participate with change management.
  • Develop a cordial yet purposeful relationship with brokers and/or reinsurers in order to advocate for the company?s position related to receivable/payable balances in the due course of settlement.
  • Participate in developing and mentoring others to assure professional growth and knowledge sharing based on your experiences. Strong understanding of insurance/reinsurance accounting activities as it relates to premiums, losses, funds held, deposit accounting, collateral, cash allocations and recoveries.

  • 5+ years of progressive accounting experience in Reinsurance accounting or 7+ years of Insurance accounting experience with minimum of 2 years working in a reinsurance department.
  • Bachelor?s degree in Business, Accounting or Finance and CPA certification or MBA is preferred but, not required
  • Strong analytical skills, with the ability to identify unusual variances in results and drill into supporting general ledger accounts / workpapers, and work with others across the organization, to provide explanations.
  • Be proactive, detail oriented, focused on improving existing processes, willing to share ideas and recommendations and exhibit exceptional organizational skills.
  • Ability to communicate sometimes complex Finance concepts, succinctly and accurately, across various levels, including senior leadership.
  • Continuous Improvement Focused: Willing to ask questions and explore new ideas. Eager to learn and focused on continuously improving technical skills and Reinsurance technical accounting capabilities.
  • Solid Excel skills and comparable ERP experience, with working knowledge of Oracle GL a big plus
  • Possess the ability to work in a fast–paced multi–company, multi–systems environment with minimal supervision, where reporting requirements and processes are not fully established, so you are expected to provide recommendations and implement enhancements.